Finance Minister Lawrence Wong delivered his Budget 2023 statement on 14 February 2023. In his speech, he announced the enhancements to the following programmes:
Piloting of Jobs-Skills Integrators to Strengthen Training and Placement Ecosystem
The Jobs-Skills Integrator (JSIT) will be piloted in the precision engineering, retail and wholesale trade sectors to oversee and coordinate efforts across key players to identify manpower and skills needs, provide industry-relevant training, and facilitate job matching.
More details will be provided at the Committee of Supply.
(For Enterprises) Enhanced Tax Deductions for Training under the Enterprise Innovation Scheme (EIS)
The Enterprise Innovation Scheme (EIS) will reinforce existing measures to encourage employers to invest in enterprise training and capabilities of their employees. Businesses can deduct 400% of their expenditure on SSG-funded Skills Framework-aligned training courses (capped at $400,000 of expenditure).
More details will be provided at a later date.
Learn more about the eligible courses here.